A recent KGO-TV report profiled Lauren Carlysle, who called the station after seeing the late charge on her statement. Reporter Michael Finney contacted Carlysle's lender, who explained that her bill's due date fell on a Saturday. The online bill payment system automatically pushes Saturday payments to Monday, causing Carlysle's account to become delinquent.
Although Carlysle's credit card issuer reversed the charge, consumer advocates remind Americans to review their online bill payment requests for similar weekend due dates. Provisions of the Credit CARD Act protect borrowers from being charged for same-day online payments. However, no such protection exists for customers who set a pre-scheduled payment for after a cycle's deadline.
About the Author
Joe Taylor Jr. is an internal business consultant for a Fortune 500 company, who writes about finance, culture, and design. He holds a Bachelor of Science in Communications from Ithaca College.